Turkish glass wool and insulation materials maker Izocam expects to fulfill its targets for 2004 as the company posted January to September 2004 results in line with its expectations, it was reported …
Turkish glass wool and insulation materials maker Izocam expects to fulfill its targets for 2004 as the company posted January to September 2004 results in line with its expectations, it was reported on 24 November 2004. Izocam posted a net profit of TRL 8.776 trillion (USD 6.2 million/EUR 4.7 million) and net sales of TRL 92.8 trillion (USD 65.1 million/EUR 49.4 million) for the first nine months of 2004, under International Financial Reporting Standards (IFRS), the company“s director general Arif Nuri Bulut said. For the January to September 2003 period, the company posted net profit of TRL 5.7 trillion (USD 4.0 million/EUR 3.1 million) and gross sales of TRL 70.5 trillion (USD 49.4 million/EUR 37.5 million ). For 2004, Izocam is aiming to achieve turnover of TRL 120 trillion (USD 84.1 million/EUR 63.8 million), including exports of USD 20 million (EUR 15.2 million) and a net profit of TRL 22 trillion (USD 15.4 million/EUR 11.7 million). The company is seeking to achieve physical growth of 35% in 2004. Izocam, part of Turkish industrial conglomerate Koc Holding, has production facilities in Gebze, Tarsus, Beylikduzu, Bolu and Eskisehir.